Wall Street Zen upgraded shares of Plumas Bancorp (NASDAQ:PLBC – Free Report) from a hold rating to a buy rating in a report published on Saturday morning,Wall Street Zen reports.
Several other brokerages also recently issued reports on PLBC. Raymond James Financial reissued an “outperform” rating and set a $70.00 price objective on shares of Plumas Bancorp in a research note on Wednesday. Stephens lifted their target price on shares of Plumas Bancorp from $60.00 to $64.00 and gave the stock an “overweight” rating in a research note on Thursday, July 16th. Weiss Ratings upgraded Plumas Bancorp from a “buy (b+)” rating to a “buy (a-)” rating in a report on Thursday, October 8th. The Goldman Sachs Group set a $70.00 price target on Plumas Bancorp in a research note on Wednesday. Finally, Piper Sandler increased their price target on Plumas Bancorp from $66.00 to $69.00 and gave the stock an “overweight” rating in a research note on Thursday, July 16th. Four investment analysts have rated the stock with a Buy rating. According to data from MarketBeat, Plumas Bancorp has a consensus rating of “Buy” and an average price target of $68.25.
Plumas Bancorp Stock Down 0.5%
PLBC stock opened at $63.20 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.86 and a quick ratio of 0.86. The company’s 50 day simple moving average is $62.01 and its 200-day simple moving average is $57.99. Plumas Bancorp has a 12 month low of $39.80 and a 12 month high of $64.30. The firm has a market capitalization of $439.87 million, a PE ratio of 10.60 and a beta of 0.59.
Plumas Bancorp (NASDAQ:PLBC – Get Free Report) last issued its quarterly earnings data on Wednesday, October 21st. The financial services provider reported $1.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.46 by $0.15. The business had revenue of $29.33 million for the quarter, compared to the consensus estimate of $29.03 million. Plumas Bancorp had a return on equity of 15.82% and a net margin of 31.72%. Equities analysts expect that Plumas Bancorp will post 5.92 earnings per share for the current fiscal year.
Plumas Bancorp Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 17th. Stockholders of record on Tuesday, November 3rd will be issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 2.1%. The ex-dividend date is Tuesday, November 3rd. Plumas Bancorp’s dividend payout ratio is presently 22.15%.
Insider Activity
In related news, EVP Kevin Kaiser sold 1,200 shares of the business’s stock in a transaction that occurred on Wednesday, August 26th. The shares were sold at an average price of $61.50, for a total value of $73,800.00. Following the completion of the sale, the executive vice president directly owned 719 shares in the company, valued at approximately $44,218.50. The trade was a 62.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 7.40% of the company’s stock.
Hedge Funds Weigh In On Plumas Bancorp
A number of large investors have recently bought and sold shares of PLBC. BlackRock Inc. acquired a new stake in shares of Plumas Bancorp during the 2nd quarter worth $26,754,000. The Manufacturers Life Insurance Company purchased a new position in shares of Plumas Bancorp in the 2nd quarter worth about $13,704,000. De Lisle Partners LLP purchased a new position in shares of Plumas Bancorp in the 2nd quarter worth about $13,318,000. Dimensional Fund Advisors LP raised its holdings in shares of Plumas Bancorp by 12.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 123,750 shares of the financial services provider’s stock worth $6,041,000 after purchasing an additional 13,342 shares during the period. Finally, Punch & Associates Investment Management Inc. acquired a new position in shares of Plumas Bancorp in the 2nd quarter valued at about $3,829,000. Hedge funds and other institutional investors own 41.68% of the company’s stock.
Key Plumas Bancorp News
Here are the key news stories impacting Plumas Bancorp this week:
- Positive Sentiment: Third-quarter earnings exceeded expectations. Plumas Bancorp reported adjusted earnings of $1.61 per share, above the $1.46 analyst consensus, while revenue of $29.33 million also topped estimates of $29.03 million. Net income reportedly more than doubled, highlighting strong profitability and helping support the investment case. Plumas Bancorp Q3 Earnings
- Positive Sentiment: The company declared a $0.33 quarterly dividend. The payment is scheduled for November 17 to shareholders of record on November 3. The dividend represents $1.32 annually and a yield of approximately 2.1%, providing ongoing income support for shareholders. Plumas Bancorp Quarterly Dividend
- Neutral Sentiment: Plumas Bancorp is changing chief financial officers. Kelsey Cassinelli will succeed longtime CFO Richard Belstock, who is retiring from the role but will remain with Plumas Bank as special assistant to the president. The planned transition may limit disruption because of Belstock’s continued involvement, though investors may watch for updates on financial reporting and execution under the new CFO. Plumas Bancorp CFO Transition
About Plumas Bancorp
Plumas Bancorp is the bank holding company for Plumas Bank, a community bank headquartered in Reno, Nevada. Plumas Bank was founded in 1980 in Quincy, California, and serves individuals, families, businesses and organizations through banking offices and digital banking services.
The bank provides a range of financial products, including checking and savings accounts, certificates of deposit, consumer loans, residential mortgages, commercial real estate financing, business loans, agricultural lending and lines of credit.
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